Shasnil Chand, a lecturer in economics at Fiji National University, has won the University of the South Pacific’s Outstanding Thesis Award for his PhD research into the macroeconomic effects of remittance inflows. The USP Medal and Prize Research Committee recognised Chand’s thesis on Tuesday, 14 April 2026, citing its empirical contribution to understanding how remittances influence sustainable development, inflation and exchange rates across developing and emerging economies.
Chand’s thesis, titled “Remittance Inflows Effect on Sustainable Economic Development, Inflation and Exchange Rate: Evidence from Developing and Emerging Economies,” draws on a large cross-country dataset covering more than 50 countries over the period 1996–2021. His analysis used advanced econometric techniques to assess both the potential benefits of remittance flows for long-term development and the macroeconomic challenges they can pose, such as inflationary pressures and exchange-rate appreciation.
The study’s headline finding is that remittance inflows significantly promote sustainable economic development, and these positive effects are particularly strong in settings where the cost of sending remittances is low. At the same time, Chand’s work documents the trade-offs policymakers face: while remittances can bolster development outcomes, they may also feed inflation or push up the real exchange rate, complicating macroeconomic management in recipient countries.
“My PhD research was inspired by the growing importance of remittance inflows in developing and emerging economies, particularly in countries like Fiji where remittances play a vital role,” Chand said, noting that much of the existing literature had focused narrowly on household welfare rather than broader macroeconomic outcomes. He said his findings can help policymakers better harness remittances for resilience and sustainable growth.
Chand described the PhD journey as technically demanding, involving large multi-country datasets and complex econometric methods, alongside the personal challenge of balancing study with family life. He credited discipline, perseverance and family support—singling out his wife’s contributions while he was on full-time study leave and his daughter as an ongoing source of inspiration—for enabling his completion of the work.
The award and the thesis have immediate local relevance. Remittances have become a major source of foreign exchange for Fiji and other Pacific islands—previous reporting shows Fiji received about US$1.25 billion in remittances in 2023 and that flows were projected to approach US$1.34 billion the following year—making Chand’s macro-level findings directly pertinent to national policy debates on monetary stability, financial inclusion and diaspora engagement.
Chand said he plans to extend the research with a tighter focus on Pacific economies, including Fiji, to produce more policy-relevant evidence for the region. He also intends to integrate his empirical findings into teaching and public engagement to help students and policymakers better understand how remittance dynamics operate in real-world Pacific Island contexts. The FNU has congratulated Chand on the award; further details are available on the university’s website.
Leave a comment